Topic 2: Some people believe that the higher a product is priced, the more likely it is that people will

want to buy it. To what extent does price influence potential customers? What other factors influence
people to buy a product?

Today’s consumer society has given rise to a new paradox related to consumer behavior that has hardly
failed to capture public’s interest. It is believed that a product stands higher chance of being purchased
should it be more expensive. The price of a commodity, in my opinion, is absolutely integral in
determining the target customers and reflecting its capability. Apart from the price itself, the brand and
the origin of the product also impacts customers’ shopping habits.

In the first place, the price of the product is an indicator of customers’ social status. Wealthy people
have the tendency to channel of great deal of their money into buying luxurious products while
individuals with limited budget, in contrast, purchase more reasonable merchandise. This is often a
result of a perception regarding the quality of the product as the high-cost commodities is believed to be
of higher standard than less expensive ones. Besides, the cost of a commodity is somewhat a reflection
of its capability and durability. Costly phones, for example, is widely believed to have better
performance and be equipped with more functionalities than mid-range ones. Therefore, should a
person’s job requirements greatly stress the functions of products, he and she is bound to spend more
many on high-end merchandise to optimize the productivity of the work.

Aside from the price of a product, its brand is also taken into careful consideration by customers before
making any purchases. Brands with established reputation in the marketplace, in all likelihood, tends to
be preferred over obscure ones due to perceived value of the service. Luxury brands, in addition,
possess a desirability that extends beyond their function as they provide the users with the stated status
through ownership. Their appeal is simply as a result of their constructed scarcity in availability via
different advertising campaigns as well as their associations with particular consumer segments, in
particular, the upper-class. Furthermore, today’s savvy consumers place great deal of attention to the
origin of the product offered. Commodities without a clear origin printed on its boxes or wrappers are
largely avoided due to its potential to contain hazardous substances, as clearly elaborated in the case of
food and beverage. For example, an influx of seafood coming from unknown origin has been constantly
reported on the news in recent years with a view to raising people’s awareness about their food
sources, which has successfully resulted in mass boycott among the public.

In conclusion, potential buyers are greatly influenced by the cost of the goods for their focus on the
intended market as well as their promised performance. Besides, the branding and the sources of the
commodities are also considered well by customers before purchasing.